| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 51st | Fair |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 909 S Washington St, Pilot Point, TX, 76258, US |
| Region / Metro | Pilot Point |
| Year of Construction | 1998 |
| Units | 60 |
| Transaction Date | 2017-01-14 |
| Transaction Price | $3,180,000 |
| Buyer | 909 S WASHINGTON LLC |
| Seller | LIPMAN BENJAMIN G |
909 S Washington St, Pilot Point TX Multifamily Investment
Neighborhood occupancy is solid and renter demand is supported by steady in-migration, according to WDSuite s CRE market data, positioning this asset for durable leasing in a growing suburban corridor.
Pilot Point sits within the Dallas Plano Irving metro and scores above the metro median overall (ranked 542 of 1,108 neighborhoods), signaling balanced fundamentals for investors. Amenity access is competitive among Dallas Plano Irving neighborhoods, with parks and pharmacies trending above national medians, while restaurants and groceries are present but not dense. Average school ratings in the area track below national norms, which is an underwriting consideration for family-oriented product.
The neighborhood s occupancy is measured at 94.5% for the area, not the property, and sits above the national median, per commercial real estate analysis from WDSuite. Rent-to-income in the neighborhood is comparatively low, supporting resident retention and reducing near-term affordability pressure. Median home values are in a high-cost ownership range for the region, which can sustain reliance on rental housing and help stabilize leasing velocity.
Demographic statistics are aggregated within a 3-mile radius. Population and household counts have grown meaningfully over the last five years, and forward projections point to continued population growth and a larger tenant base by the mid-term. A renter-occupied share around one-third indicates a defined, if not dominant, renter concentration that should support demand for well-managed multifamily units.
Vintage context matters: the average local construction year skews to the early 1980s, while this property was built in 1998. The relative recency offers competitive positioning versus older stock and may moderate near-term capital expenditures, though investors should still plan for system upgrades and modernization as part of value-add or lifecycle improvements.
Comparable neighborhood crime metrics were not available in this data release. Investors typically benchmark local police reports and third-party indices against metro trends to contextualize safety at the neighborhood level rather than at the block. As with any suburban asset, monitoring multi-year trends and property-level incident rates can help frame retention and insurance assumptions.
The employment base within commuting distance includes major corporate offices that support a broad professional workforce, aiding renter demand and retention. Nearby anchors span defense, retail, data services, and technology, as outlined below.
- Raytheon Company defense & aerospace offices (21.5 miles)
- J.C. Penney retail headquarters (22.4 miles) HQ
- Alliance Data Systems data & marketing services (22.5 miles) HQ
- Yum China Holdings corporate offices (22.7 miles) HQ
- Hewlett Packard Enterprise technology offices (23.2 miles)
This 60-unit, 1998-vintage property benefits from a suburban location where neighborhood occupancy is above the national median and rent-to-income ratios indicate comparatively manageable housing costs. Based on CRE market data from WDSuite, the area ranks above the metro median overall with amenity access that is competitive locally, supporting everyday livability. The asset s newer-than-average vintage versus the local 1980s stock offers relative competitiveness and potential to capture steady demand with targeted modernization.
Demographic trends within a 3-mile radius show population and household growth historically, with continued expansion projected a positive signal for a larger tenant base and occupancy stability. While homeownership options are attainable for some households, this can coexist with durable rental demand given commuting access to diversified employers and neighborhood-level affordability. Key risks include softer school ratings and the need to manage capex as the property s systems age.
- Above-median neighborhood fundamentals and solid area occupancy support leasing stability
- 1998 vintage is newer than local average, offering competitive positioning with manageable modernization needs
- 3-mile population and household growth expands the tenant base and supports long-term demand
- Diversified employment within commuting distance underpins demand and lease retention potential
- Risks: lower school ratings and ongoing capex for aging systems warrant conservative underwriting